Good Monday AM,

Bonds are flat and stocks are mixed. The Dow is down but S&P and Nasdaq are up. The bond market begins yet another week with rates in a holding pattern at historic lows.  With coronavirus being the primary motivation for rates, not much is likely to happen to push rates up considerably until there is a confirmed vaccine and that vaccine is mass produced. We are quite a bit away from that. The yield on the 10-year is currently .61. We are perfectly range bound and in the middle of the range. There is no news today and it is a not a big news week. We will see some housing numbers. Next week is the likely one of the biggest news weeks of the year. We will see the GDP number and know just how destructive the virus has been (with more pain to come).

Congress back in session and discussing the bonus unemployment benefits. Under the current plan, the additional $600/week is expiring at the end of next week. For illustration, that $600/week will hit Nevada the hardest of any state as it represents 11% of the state’s income. Rut Row…

To finish up, I wanted to share a pretty cool graph from the WSJ, not much to be learned from it but it is just a cool graph.

Nasdaq shares’ market value:

Please remain safe and stay healthy, make today great!